Sana Biotechnology (NASDAQ:SANA) Shares Up 13.9% – Time to Buy?

Shares of Sana Biotechnology, Inc. (NASDAQ:SANA) shot up 13.9% during trading on Wednesday . The stock traded as high as $3.19 and last traded at $3.33. 1,462,380 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 21,905,322 shares. The stock had previously closed at $2.92.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SANA shares. HC Wainwright increased their price target on shares of Sana Biotechnology from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. TD Cowen raised Sana Biotechnology from a “hold” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, JMP Securities downgraded Sana Biotechnology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Sana Biotechnology presently has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Sana Biotechnology Trading Down 3.2 %

The company’s 50 day moving average price is $2.46 and its 200 day moving average price is $3.94. The company has a market cap of $754.65 million, a price-to-earnings ratio of -2.41 and a beta of 1.45.

Sana Biotechnology (NASDAQ:SANA) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. Sell-side analysts predict that Sana Biotechnology, Inc. will post -1.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Fmr Llc sold 290,912 shares of Sana Biotechnology stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $6.49, for a total transaction of $1,888,018.88. Following the completion of the sale, the insider now directly owns 4,541,511 shares in the company, valued at approximately $29,474,406.39. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 31.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sana Biotechnology

A number of institutional investors and hedge funds have recently modified their holdings of SANA. Wilmington Savings Fund Society FSB acquired a new position in Sana Biotechnology during the third quarter worth about $29,000. Stifel Financial Corp purchased a new stake in Sana Biotechnology in the 3rd quarter valued at approximately $43,000. EP Wealth Advisors LLC acquired a new stake in Sana Biotechnology during the 3rd quarter valued at $45,000. Blue Trust Inc. increased its position in Sana Biotechnology by 1,246.6% during the third quarter. Blue Trust Inc. now owns 13,129 shares of the company’s stock worth $55,000 after buying an additional 12,154 shares in the last quarter. Finally, Algert Global LLC acquired a new position in shares of Sana Biotechnology in the second quarter worth $73,000. Institutional investors and hedge funds own 88.23% of the company’s stock.

Sana Biotechnology Company Profile

Sana Biotechnology, Inc, a biotechnology company, focuses on utilizing engineered cells as medicines. It develops ex vivo and in vivo cell engineering platforms for various therapeutic areas with unmet treatment needs, including oncology, diabetes, central nervous system disorders, B-cell-mediated autoimmune, and others.